Business Directories

Awal Gulf gets Bahrain labour fund backing

Manama, November 5, 2012

Awal Gulf Manufacturing, a leading refrigeration and AC equipment manufacturer, has received technical back up from Tamkeen, Bahrain’s labour fund, through an enterprise support scheme.

Tamkeen’s Large Enterprise Support Scheme, which is specifically designed to back up large Bahrain-based enterprises, has been recently introduced by Tamkeen to provide co-financing support to large Bahraini business enterprises to help them acquire the latest industrial machinery.

Under this scheme, Tamkeen’s contribution will be 50 per cent, up to a maximum of BD150,000 ($386,110), of the cost of the machinery and related costs.

Enterprises seeking to benefit from the scheme must have an active Commercial Registration Certificate, earn annual revenue equal to or more than BD5 million and must be able to provide audited financial statements.

Furthermore, the enterprise should commit to hire minimum two Bahrainis or increase the wage of at least two existing Bahraini employees by at least BD50 per month. Applications will be evaluated and approved by Tamkeen’s Enterprise Development Support team.

Tamkeen VP for Enterprise and Human Capital Development Dr Ahmed Abdulghani Al-Shaikh said business firms have received another incentive from Tamkeen with the introduction of “The Large Enterprise Support Scheme”.

“The scheme is a Tamkeen’s strategic initiative that has been developed specifically to support large business Enterprises across all sectors to uplift their capabilities and boost performance,” he added.

Awal Gulf Manufacturing will use Tamkeen’s support to purchase machinery and equipment to increase production capacity and enhance on-site industrial performance, a statement said.

Adel Matter, Awal Gulf managing director said: “We are very pleased to be the first company to join this initiative which, we believe will bring new growth opportunities for the company and for Bahrainis. Through Tamkeen’s large Enterprise Support Scheme, large enterprises can now keep abreast of the latest trends of industry evolution.” – TradeArabia News Service